Commercial Contract Law: Critical Analysis of the Statement “Third parties must be adequately protected by the law and there is little commercial need for permitting the principal to remain undisclosed?”

Commercial Contract Law: Critical Analysis of the Statement “Third parties must be adequately protected by the law and there is little commercial need for permitting the principal to remain undisclosed?”

Introduction

The statement which is under discussion in this paper is related to the commercial contract law. The following assignment will critically argue the statement that should third parties be adequately protected by the law and is there little commercial need for permitting the principal to remain undisclosed. The law of contract that is under discussion here is related to contracts businesses made during their commercial processes. The case of Said Vs Butt and Watteau v Fenwick will be occasionally used as an example in the following paper to support or argue the earlier stated statement.

Law of Contract

Before we begin discussion related to contract law, it is important that we will examine the law of contract, so that it will be easy to favor or against the statement and cases. The law of contract which we are going to analyze here is actually the enforcement of promises between a business owner and the user of the commercial service. Every contract is not enforced by court, but commercial contracts if violated are the direct matter of court. For the enforcement of promises, or an agreement court observe some elements. After having a check on these elements regarding commercial contract, court will prove that agreement as a contract. Like in the case of Said Vs Butt, even an aide of the Said bought the ticket for him, but it is clear that anyone who buys the ticket must watch the show. Thus, restraining the said from entering to watch the play, is actually the violation of the play.

A valid contract is two or more pre-matching statements of intent of the Parties (offer and acceptance). When purchasing contract, the seller to transfer and transfer of ownership of a particular defect-free product, the buyer is obliged to pay the agreed purchase price. In contrast, the plant operator has the contract for a work performance, thus providing for a specific result, and the purchaser agrees to pay the agreed remuneration. After the conclusion of contracts are always questions to legal claims for defects or how long claims arising from contractual relationships are enforceable.

Meaning of Contract

Contract is known as the promise or the set of promises which are enforced by the law. In reference to this definition, the statement can be argued that even third parties or anyone who form a contract are given protection in accordance with the law. For a valid contract there should be two or more separate parties must be involved. Like in the case of Watteau v. Fenwick, there are two businesses a buyer Humble and a supplier, Watteau is directly involved. The parties should have to be certain ...